It’s a new year, but that doesn’t mean that Biglaw bonus season is over just yet. Some firms still haven’t made their announcements, some firms still haven’t paid out their bonuses, and some firms made their anouncements weeks ago, but their associates were too excited about the holiday season to pass the big news along to your editors here at Above the Law.
Today’s bonus announcement is of the third variety. Winston & Strawn announced its year-end bonuses on December 14, but we didn’t hear about it until last night. In case you’ve somehow forgotten what this year’s bonus scale looks like, here it is again:
Class of 2018: $15,000 (pro-rated)
Class of 2017: $15,000
Class of 2016: $25,000
Class of 2015: $50,000
Class of 2014: $65,000
Class of 2013: $80,000
Class of 2012: $90,000
Class of 2011: $100,000
Bonuses for the class of 2010 and beyond will be handled on a case by case basis, and the firm takes care to note that bonuses may be “above or below” the Cravath scale based on performance factors including “evaluation ratings, productivity, and other extraordinary contributions to the firm.” Winston & Strawn will also pay additional bonus cash to associates who have “substantially exceed[ed]” the firm’s 2000-hour annual billables goal. Last, but not least, the firm will true up associates who didn’t qualify for summer bonuses during the summer, but now do with a full year’s worth of billing. The firm expects to pay out its bonuses early next month.
Having to wait so long for bonus money must stink, but associates will be filthy rich come February, so there’s not much to complain about. Congratulations!
(Flip to the next page to see the Winston & Strawn bonus memo.)
Remember: as soon as your firm’s bonus memo comes out, please email it to us (subject line: “[Firm Name] Bonus”). We always keep our sources on bonus stories anonymous. There’s no need to send the memo using your firm email account; your personal email account is fine. Please be sure to include the memo as proof; we like to post complete bonus memos as a service to our readers. You can take a photo of the memo and attach as a picture if you are worried about metadata in a PDF or Word file. You can also text us if you prefer, at 646-820-8477.
And if you’d like to sign up for ATL’s Bonus Alerts, please scroll down and enter your email address in the box below this post. If you previously signed up for the bonus alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each bonus announcement that we publish. Thanks!
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.
Biglaw Bonus Season Ain’t Over Yet: Big Bucks For Big Billers At This Firm curated from Above the Law
No comments:
Post a Comment